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Fundraising details will be posted here shortly

Comment on the purchase by Mr. Stephen Hayes of a majority shareholding in Wasps

The Board of Wycombe Wanderers Trust notes the announcement that Mr. Stephen Hayes, Managing Director and a major shareholder in Wycombe Wanderers Football Club PLC (WWFC), has purchased a majority shareholding in London Wasps Holdings Limited (Wasps). This is the company that owns London Wasps rugby club. For the text of the announcement see the link here or below.

The full implications of this development will take time to become apparent. On the positive side, there may be benefits for both WWFC and Wasps through such matters as a joint effort to enhance the revenues and reduce the costs of both clubs. However, there are potential dangers to WWFC resulting from the uncertainty that this creates regarding the future of Mr. Hayes's interest in WWFC and how Mr. Hayes balances the interests of WWFC versus those of Wasps.

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posted in club-issues | 05.12.2008. 23:17 | Write a comment

Statement on the 25% limit to individual share ownership in Wycombe Wanderers

The recently released accounts of Wycombe Wanderers Football Club PLC (the Club) to June 30th 2008 make for disturbing reading for shareholders and the Club's supporters alike - link here or below for the accounts.

They reveal losses for the year to 30th June 2008 of £1.7 million and large levels of repayable debt, which is estimated at £7.25 million (see below). The cash element of the annual losses is financed by an ever-increasing amount of loan notes from Mr. Stephen Hayes, the Club's Managing Director. Loan notes totalled £5.9 million at 30th June 2008 of which Mr. Hayes had supplied £5.8 million.

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posted in club-issues | 05.12.2008. 23:08 | Write a comment

The Trust's Questions for the plc AGM

The Trust has asked that the following questions be answered at the PLC AGM on 4th December 2008. The Trust will report on the answered received in due course.

Questions re the Report and Financial Statements to 30th June 2008

1. What additional guarantees have been given to the auditors to avoid the need to qualify the accounts in any way?

2. The Chairman's report gives a projection of the financial loss for 2008/09 as being in the region of one million pounds. In the light of the current UK downturn, is this still the projected loss?

3. The projected loss of one million pounds represented a significant change to the loss of £1.7 million incurred in 2007/08. What are the specific revenue and cost saving opportunities that give rise to an opportunity to make such a large difference?

4. Will additional loan notes from Mr. Hayes fund any cash loss this financial year?

5. A resolution before the AGM invites members to elect Mr. Pelley as a director of the Company:
5.1 What are the specific projects to which it is hoped Mr. Pelley will contribute?
5.2 What are Mr. Pelley's qualifications or experience that make him particularly suitable for these specific projects?
5.3 Will Mr. Pelley receive any remuneration for his duties at Wycombe Wanderers?
5.4 Does Mr. Pelley vote on PLC Board matters?

6. The financial statements refer to an agreement between Mr. Beeks, Mr. Kane and Mr. Hayes, under which none of the loans can be repaid without all three directors being in agreement.
6.1 Does the agreement cover all loan notes to date together with those anticipated to be issued in financial year 2008/09?
6.2 Is there any specified end date to the period of the agreement and, if so, what is that date?
6.3 Is there any limitation to the agreement's scope with respect to loan notes over a certain total and, if so, what is that total?
6.4 What happens to the agreement in the event that either Mr. Beeks or Mr. Kane were no longer directors of the Club?

7. Was Mr. Hayes correctly reported in the Bucks Free Press on 14th November 2008 as wishing to convert his loan notes, of which £5.8 million are shown in the accounts as outstanding as at 30th June 2008, into shares?

8. Does the Board of Wycombe Wanderers Football Club PLC support the removal of the 25% limit on the holding by any one individual of the PLC's Ordinary Shares, of which £3,999,500 are shown in the accounts as authorised as at 30th June 2008 and, if so, will the Board of Wycombe Wanderers Football Club PLC be placing specific proposals before Ordinary and Founder Shareholders to remove this limit?

9. What is the current status of the possible development of a new stadium as referred to in the Chairman's report?

10. Does the PLC Board believe that it possible to breakeven at Adams Park?

11. Is there a significant financial advantage, relative to staying at Adams Park, in moving to a new stadium?

posted in plc-annual-report | 05.12.2008. 23:01 | Write a comment

PLC Report and Accounts 2008

WWFC PLC Report and Accounts 2008Wycombe Wanderers Football Club PLC
Notice of the 2008 Annual General Meeting and Annual Report and Financial Statements for period ending 30th June 2008
Wycombe Wanderers Football Club PLC (the Club) has recently published annual accounts for the year ending 30th June 2008. The Club's annual general meeting will be held in the Vere Suite on Thursday, 4th December 2008 at 8:00 p.m.

As a service to members, copies of the following documents can be found below:

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posted in plc-annual-report | 05.12.2008. 22:47 |

Martin Hamilton

Martin HamiltonDay job: Retired Justices Clerk and Justices Chief Executive.

Despite being retired, Martin remains active in the community, sitting part-time on a number of tribunals.

Supported Wycombe Wanderers since approximately 1985 when he started attending matches with his son. With his son now grown up, Martin attends matches home and away with friends from Wycombe Wanderers Independent Supporters Club (WWISC).

Martin is a member of WWISC and attends Football Supporters Federation meetings and reports back on them to both WWISC and the Trust. He is a Founder Shareholder in the Club as well as having been a member of the Founders Trust.

Other interests include black and white film photography.

posted in meet-the-trust-board | 05.12.2008. 20:59 |

Geoff Taylor

Geoff TaylorBorn: November 1961 Day job: Marketing Director of construction contractor.

Supported Wycombe Wanderers since 1988 when he moved into the area. Attends matches with his wife Heather and their four children Marie, James, Abigail and Daniel all of whom are season ticket holders.

Geoff is a Founder Shareholder in the Club and was previously a member of both the Supporters and Founders Trusts.

posted in meet-the-trust-board | 04.12.2008. 23:02 |

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